Todays Report: The 5,000 Shares of Independent Bank Group Inc. (IBTX) Stock are sold by Daniel W. Brooks

The 5,000 Shares of Independent Bank Group Inc. (IBTX) Stock are sold by Daniel W. Brooks

Independent Bank Group Inc. (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $49.00, for a total transaction of $245,000.00. Following the completion of the transaction, the insider now owns 162,828 shares of the company’s stock, valued at $7,978,572. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Independent Bank Group Inc. (NASDAQ:IBTX) opened at 48.20 on Monday. The company has a market cap of $891.12 million, a P/E ratio of 18.07 and a beta of 1.26. The stock’s 50 day moving average is $44.94 and its 200-day moving average is $40.87. Independent Bank Group Inc. has a 12 month low of $25.50 and a 12 month high of $49.40.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, October 24th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.02. Independent Bank Group had a net margin of 22.20% and a return on equity of 8.23%. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities analysts forecast that Independent Bank Group Inc. will post $2.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. Independent Bank Group’s dividend payout ratio (DPR) is currently 11.99%.

IBTX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Independent Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Raymond James Financial Inc. started coverage on shares of Independent Bank Group in a report on Thursday, July 7th. They issued an “outperform” rating and a $44.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Finally, Hovde Group boosted their target price on shares of Independent Bank Group from $43.00 to $45.50 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $44.36.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock worth $120,000 after buying an additional 2,217 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Independent Bank Group during the second quarter valued at $213,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Independent Bank Group during the second quarter valued at $217,000. BlackRock Advisors LLC increased its stake in shares of Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock valued at $228,000 after buying an additional 2,484 shares during the period. Finally, American International Group Inc. increased its stake in shares of Independent Bank Group by 12.6% in the second quarter. American International Group Inc. now owns 6,398 shares of the company’s stock valued at $275,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Independent Bank Group Company Profile

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